MARKET WRAP

The major indices closed at record highs today. The S&P 500 gained 0.62%, while the Nasdaq was up 0.84%.

According to FactSet, a few notable names made 52-week highs, including Apple, Amazon, Microsoft, JPMorgan, and Bank of America.

Consumer Discretionary was the top sector, up 1.8%, led by Tesla.

Financials were the second-best performer, up 1%.

Energy, Health Care, and Materials were the worst performers. Those sectors closed down around a quarter of a percent on the day.

MRKT MATRIX: July 2, 2024

Today’s Top Stories:

• S&P 500 rises as Powell notes inflation progress, Tesla gains (CNBC)

• Powell Welcomes Recent Data But Fed Needs More Confidence to Cut (Bloomberg)

• RBC raises S&P 500 year-end target, but strategist says she’s nervous about it (CNBC)

• No Nvidia in Your Portfolio? ‘You’re Just Toast’ (WSJ)

• Tesla shares soar on better-than-expected Q2 deliveries report (CNBC)

• FDA approves Eli Lilly Alzheimer’s drug, expanding treatment options in the U.S. (CNBC)

• Goldman’s favorite stocks for the second half — including 3 additions to its conviction list (CNBC)

Today’s MRKT Call is Presented by CME Group

Chart Check on S&P, Tesla, Homebuilders & Consumer Discretionary

Dan Nathan, Danny Moses and Carter Worth break down the top market headlines and bring you stock market trade ideas for Tuesday, July 2nd.

Click here to access all of the charts mentioned in today’s MRKT Call.

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